172,116 Shares in CDW Corporation $CDW Acquired by Bamco Inc. NY

Bamco Inc. NY acquired a new stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 172,116 shares of the information technology services provider's stock, valued at approximately $24,206,000. Bamco Inc. NY owned 0.14% of CDW as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Hollencrest Capital Management increased its holdings in shares of CDW by 909.1% in the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider's stock worth $27,000 after acquiring an additional 200 shares in the last quarter. Allied Private Wealth LLC bought a new position in shares of CDW during the 2nd quarter valued at about $28,000. Keating Financial Advisory Services Inc. acquired a new position in shares of CDW in the 2nd quarter valued at approximately $28,000. Root Financial Partners LLC increased its stake in CDW by 54.7% during the 1st quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider's stock worth $32,000 after purchasing an additional 93 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in CDW during the 2nd quarter worth approximately $51,000. Institutional investors own 93.15% of the company's stock.

Insiders Place Their Bets

In other CDW news, insider Elizabeth H. Connelly sold 26,695 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $137.62, for a total value of $3,673,765.90. Following the sale, the insider owned 34,215 shares in the company, valued at $4,708,668.30. This represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CDW. Royal Bank Of Canada raised shares of CDW to an "outperform" rating and set a $130.00 price objective for the company in a research report on Wednesday, May 27th. JPMorgan Chase & Co. raised shares of CDW from a "neutral" rating to an "overweight" rating and set a $130.00 price objective on the stock in a research report on Wednesday, May 27th. Barclays reduced their target price on shares of CDW from $144.00 to $123.00 and set an "equal weight" rating for the company in a research note on Thursday, May 7th. UBS Group lowered their target price on CDW from $162.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 7th. Finally, Weiss Ratings raised CDW from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $147.00.

CDW Price Performance

Shares of CDW opened at $141.46 on Thursday. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97. The company's fifty day simple moving average is $136.93 and its 200 day simple moving average is $128.49. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $171.55. The company has a market cap of $17.69 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 1.87 and a beta of 0.96.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.11. The company had revenue of $6.57 billion during the quarter, compared to the consensus estimate of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. The company's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.60 EPS. On average, research analysts forecast that CDW Corporation will post 10.28 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 25th. CDW's payout ratio is 30.29%.

CDW Company Profile

CDW NASDAQ: CDW is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source